PSFE - This Reverse-Stock-Split Stock Is Down 90% but Is It a Buy Ahead of the Next Bull Market?
Paysafe (NYSE: PSFE) is a relatively small company, with a market capitalization of just $1.3 billion, so it flies under most investors' radar. But that might not be the case for long, because it's a key service provider to fast-growing industries like e-commerce and online gambling.
Paysafe went public through a special-purpose acquisition company (SPAC) merger in late 2020, and after a short honeymoon, it began to slump. As of the end of 2021, it was down by more than 60% from its initial price, and the broader sell-off in the technology sector of 2022 took it down even further. It now trades at a valuation about 91% below its peak, and 83% below its initial price.
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This Reverse-Stock-Split Stock Is Down 90%, but Is It a Buy Ahead of the Next Bull Market?